The European Union has agreed to provide Ukraine with €90 billion (about $105.5 billion) in financial support for 2026 and 2027, European Council President Antonio Costa announced early Friday.
Posting on social media platform X, Costa said EU leaders had reached a deal in Brussels, describing the decision as a fulfilment of the bloc’s commitment to Ukraine.
The agreement followed intensive negotiations after a proposal to directly use billions of euros in frozen Russian state assets to finance Ukraine’s future needs failed to secure unanimous backing among member states.
German Chancellor Friedrich Merz said Ukraine would only be required to repay the new loan once Russia pays reparations for the war. He added that if Moscow fails to provide reparations, the frozen Russian assets would instead be used to repay the loan.
Ukrainian President Volodymyr Zelensky had earlier urged EU leaders to urgently address Kyiv’s financial needs, warning that without fresh funding Ukraine could face a budget deficit of between €45 billion and €50 billion next year. He also cautioned that a lack of support could force the country to scale back its military production amid the ongoing conflict.